Grid Dynamics Holdings, Inc. $GDYN Stock Position Decreased by American Century Companies Inc.

American Century Companies Inc. decreased its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,007,601 shares of the company’s stock after selling 65,726 shares during the quarter. American Century Companies Inc. owned about 1.19% of Grid Dynamics worth $11,638,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Grid Dynamics by 8.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,063 shares of the company’s stock worth $186,000 after acquiring an additional 1,302 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock valued at $36,000 after purchasing an additional 1,526 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in Grid Dynamics by 5.2% in the first quarter. Corebridge Financial Inc. now owns 32,159 shares of the company’s stock worth $503,000 after purchasing an additional 1,583 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Grid Dynamics by 28,150.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after buying an additional 1,689 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in Grid Dynamics by 13.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,833 shares of the company’s stock worth $171,000 after buying an additional 1,802 shares during the last quarter. Institutional investors own 71.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GDYN shares. JPMorgan Chase & Co. decreased their price target on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grid Dynamics in a research report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Grid Dynamics in a research report on Monday, September 22nd. They issued a “buy” rating and a $11.00 price target on the stock. Needham & Company LLC reduced their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.33.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $9.66 on Friday. The firm’s 50-day moving average is $8.32 and its 200-day moving average is $9.47. The company has a market cap of $818.88 million, a price-to-earnings ratio of 64.40 and a beta of 0.85. Grid Dynamics Holdings, Inc. has a 52-week low of $7.37 and a 52-week high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the business earned $0.14 earnings per share. Equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.